At this time of last year, pork prices in Vietnam were very high, but it is very different this year.
Pork prices sharply drop in Vietnam
On Thursday, a kilo of pork was sold at VND64,000-69,000 at many markets in Hanoi, while the prices ranged VND67,000-75,000 in the central, Central Highlands and southern regions. The prices have dropped by VND23,000-26,000 per kilo on-year.
Nguyen Van Trong, deputy director of the Livestock Breeding General Department, said the volume of imported frozen pork has remained high. In the first quarter of this year, Vietnam imported up to 169,300 tonnes of meat, up 0.5% on-year, including 34,650 tonnes of pork, up 101% on-year.
In addition, pig breeders have continued increasing their livestock after being hit by African Swine Fever. Meanwhile, many farmers are worried about the impact of the Covid-19 pandemic, so they have been forced to sell pigs at even lower prices.
Feed prices have surged by 25-30% over the past months, which is among the causes forcing them to sell more pigs.
According to Trong, with pig prices of less than VND70,000 per kilo, it is impossible for breeders to make a profit.
To help ease difficulties for farmers, the Ministry of Agriculture and Rural Development have asked feed companies to stabilise the prices.
